Healthcare cloud computing refers to an information technology model that enables convenient, on-demand network access to a shared pool of configurable computing resources. Globally, the healthcare cloud computing market is witnessing significant growth due to increasing demand for better healthcare facilities, rising investments by healthcare it players and cost effectiveness of healthcare cloud computing systems.
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In addition, increase in popularity of wireless and cloud technologies and rising government Initiatives are driving the healthcare cloud computing market. However, factors such as privacy and security issues and lack of experienced professionals are restraining the global market for healthcare cloud computing. In addition, interoperability issues impact the growth of the global healthcare cloud computing market. The global healthcare cloud computing market was estimated at USD 4,216.5 million in 2014. It is likely to grow with a CAGR of 20.1% and reach USD 12,653.4 million in 2020.
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North America has the largest market for the global healthcare cloud computing market. Non-clinical information systems are the largest segment of the overall healthcare cloud computing market. In clinical information systems, electronic medical records systems are the largest segment. On the basis of deployment model, private clouds dominate the market. On the basis of components, software is the largest segment. On the basis of service model, software-as-a-service dominates the market.
North America market for healthcare cloud computing was estimated at USD 1,857.5 million in 2014 and is expected to reach USD 5,757.7 million in 2020, growing at a CAGR of 20.7%. One of the latest trends that have been observed in the global healthcare cloud computing market is the increasing use of mobile devices for healthcare facilities.
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Various IT companies, such as Microsoft Corporation, ORACLE CORPORATION, International Business Machines Corporation and Dell Inc. are the leading players in the global market for healthcare cloud computing. Some of the other major players in healthcare cloud computing market are GE Healthcare, Merge Healthcare Incorporated, Agfa-Gevaert N.V., CareCloud Corporation, athenahealth, Inc. and Carestream Health, Inc.
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